Given an exchange table for the economy that consists of three sectors. Distribution of Output from: Transportation Manufacturing Services Purchased by: 0.3 0.8 Transportation 0.5 0.1 0.1 Manufacturing 0.5 0.6 0.1 Services Denote the total annual output (in dollars) of the transportation, manufacturing and services sectors by pr, PM and ps, respectively. (a) Formulate a homogeneous system of linear equations to describe the income/expenses requirements for the sectors. (b) Write (a) as a single matrix equation.

Given an exchange table for the economy that consists of three sectors. Distribution of Output from: Transportation Manufacturing Services Purchased by: 0.3 0.8 Transportation 0.5 0.1 0.1 Manufacturing 0.5 0.6 0.1 Services Denote the total annual output (in dollars) of the transportation, manufacturing and services sectors by pr, PM and ps, respectively. (a) Formulate a homogeneous system of linear equations to describe the income/expenses requirements for the sectors. (b) Write (a) as a single matrix equation.

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter2: Systems Of Linear Equations

Section2.4: Applications

Problem 23EQ: 23. Consider a simple economy with just two industries: farming and manufacturing. Farming consumes...

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